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rallied $43 yesterday. earnings from united continental show turbulent times. the airline plans to cut 600 management jobs in february at its chicago headquarters. fourth-quarter earnings dropped on slower air traffic, superstorm sandy, the united- continental merger transition, and the grounding of its 787 dreamliner jets. united's ceo says 2012 was "the toughest year of our merger integration," but the airline is "back on track." consumers are bracing for higher beef prices. the effects of last summer's drought may cause the price of beef to increase by 10 to 20 cents per pound. many farmers thinned out cattle herds as scorched corn crops triggered higher feed costs. in san antonio, texas, cargill is letting go of 2,000 workers as it closes a beef packaging plant. burger king is dropping an overseas beef supplier after traces of horsemeat were found in its products. abp food group supplies beef to b-k restaurants in the u.k. and ireland. b-k says there are no risks to human health, but some of bk's products may be temporarily unavailable. meanwhile, mcdonald's is emphasizing 'knowing you
development. united parcel service is giving up its $7 billion bid to acquire dutch delivery company tnt express. ups abandoned the plan after encountering strong opposition to the deal from the european commission. the commission was expected to announce its decision february 5th. ups will pay $267 million to terminate the deal. swatch, famous for affordable watches, is polishing its brand by acquiring harry winston jewelers, famous for its diamonds. the switzerland-based swatch group is paying $750 million for the luxury jeweler and will assume the company's $250 million in debt. the acquisition strengthens swatch's reach into the prestige segment of the jewelry business, a stated goal of the company. starz on the rise. in its first trading day as a public company, shares of starz shot up more than 10%. the stock opened at $14.20 and closed at $15.59 monday. the company is a spin- off of liberty media corp. starz is in competition with hbo and showtime. analysts view starz as a takeover target. taco bell is going head-to-head with mcdonald's as it introduces a new value menu. calling i
in 2012, ceo meg whitman says h-p may shed some units not meeting sales targets. the company recently incurred an $8.8-billion writedown of acquired software company autonomy, renewing calls from shareholders to dispose of underperforming divisions such as personal computers & printers. once again, warren buffett's berkshire hathaway performed better than the rest of the market, mostly by betting on banks. the oracle of omaha is known for his stock picking stragtegies. for 2012, buffett's berkshire class-a shares gained 17%, while the s&p 500 index advanced 13%. among the top performers in the buffett portfolio, wells fargo, american express and... there was also that $5-billion wager on bank of america. buffett bought shares of b.a.c. at $7.14 in august of 2011. the stock now trades around $12 and jumped more than 100% last year. it's likely intel's new tv service will not be ready in time for this month's consumer electronics show. the chip- maker is creating a new video cable & streaming service that offers individual channels and even individual shows on an a la carte basis to sub
on our show for a new trading year. gary kozlowski of united futures trading joins us, and happy new year to you gary. > > happy new year to you. > what do you anticipate the january effect will look like this year? > > we had so many people sitting on the sideline at the end of december this past year. what we are looking at, everybody is antsing, they want to get themselves into this market as soon as possible. they want to see what they can get involved in to try and recoup some of the losses, 'cause a lot of people did get hurt at the end of last year with all that was going on. > what is going on with the wintry weather and natural gas? > > well in last week's report we saw that there was a draw of 52 billion cubic feet on the natty gas. ok, we are seeing the february contract slowly getting up there. it is getting closer to that $3.50 range, and with the cold weather coming in - and it's been consistently cold now; we have been in the 20s and 30s here in chicago anyways - and we are seeing that there's more use, more use, more draw now. so, we should probably be seeing $3.70-, $3.75
in a decade. in a deal with the united autoworkers' union, ford plans to add 12,000 new hourly jobs in the united states by 2015. that's in addition to 8,000 hourly and salaried positions added in 2012. shares in ford were higher friday on optimistic reports from analysts, and closed at $14. a wave of cold weather is hitting wheat crops in the u.s. plains. wheat has already been slammed with the worst drought in more than 50 years, and a cold snap with little to no snow could have a big impact on farmland and cattle in the mid- states. grain supply estimates will already be tight this year, and there is increased demand for animal feed, according to the u.s. department of agriculture. corn, soybean and wheat futures have soared on the weather forecasts. the u.s. postal service is closer to the brink of bankruptcy. it's estimated by march the agency could struggle to operate. the postal service had no debt as of 2005, but because of email and congress requiring it to pre-fund healthcare benefits for future retirees, the usps is cash- strapped. one other mention - a federal appeals co
in the housing crisis - most of the loans made though b of a's countrywide financial unit. "they're compensating fannie for the trashy mortgages countrywide sold them. the question is, 'what settlement will others demand.?'" a third banking issue came from global regulators known as the basel committee on banking supervision. it eased liquidity requirments that enable banks to weather a financial crisis. "i hope this will help give some banks the breathing space they need, but we have to be sure that the banking system and economies don't collapse." some analysts say restrictions were relaxed more than expected, and in so doing, may boost bank profits. shares of barclays, hsbc, deutsche bank, and others rallied on the news. spending worldwide on gadgets is projected to hit $1.1 trillion this year, and tech companies from around the global are giving us a glimpse of what we will be buying at this year's consumer electronics show, which opens today and runs through friday. among the devices already generating buzz at the show, a "smart fork" that measures how fast you eat. it's meant to slow down
med unit zo-ett-is set to go public with a price range of $22-25 dollars, trading on the new york stock exchange under z-t-s. americans took a sigh of relief after a deal was reached to avert the fiscal cliff. one study finds people are more confident in their financial security now than in december. a recent survey by bankrate- dot-com reports its financial security index jumped three points in january--the biggest monthly increase in more than a year after the deal was reached in washington. however -- consumers still have concerns over savings. savings continues to be the achilles heel -- that is one where people are still pretty negative about the savings they had now versus a year ago. job security actually saw a nice rebound. and i think that provided the labor market continues to improve -- i think that is a rating that will continue to improve, depending on what happens in washington. mcbride notes the economy is on a good track -- which could continue to help the housing market in 20- 13. secrecy surounding money stashed in the cayman islands may soon be revealed. accordi
importantly, wells fargo is the largest, i believe, originator of mortgages in the united states. they are going to be able to tell us not only how many mortgages they sold or wrote, but what they are sort of seeing out there in the credit markets. i think that will help us get more guidance to both the housing market and to help the consumer. so i am going to be listening closely to wells fargo's report, and i think a lot of folks out there could gain a lot of knowledge about the housing situation just by that report on friday. > jared, there are some happy faces out there now that facebook is trading higher these days. what do you think about this stock? > > you know, i am not convinced that facebook has done the right thing. don't forget, they too have to report earnings this quarter. you know, last quarter was not a good one for them. facebook has been going through a rough time. and i think facebook has got a lot of proving to do. there is a little bit more optimism now building. we are going to see if they can execute on their mobile platform and see how their advertising r
to the battery used to start the auxiliary power unit, and that they are cooperating with the ntsb in the investigation of the incident. despite bb&t's downgrade, other analysts say the problems have not discouraged investment in the aircraft manufacturer. "i think they've done a good job of handing it. we have them at 73. they've been as high as 77 as low as in the 60's. that's more within the context of where the profitability of the 787 is." dihora says this year, boeing still intends to double monthly production of the 787 to 10 a month. american airlines' board meets today, and it's reported the topic of a possible merger with u.s. airways is on the agenda. interestly enough, shares of u.s. airways have been climbing higher since last thursday. that's when reuters reports the ceo of amr told employees a decision would be made "in a matter of weeks." american has until march to complete its bankruptcy re-organization plan. aig is considering suing the u.s. government for coming to the rescue. the aig board meets today and will consider joining a $25-billion shareholder lawsuit
Search Results 0 to 8 of about 9